West Orange Fourth Round HEFSP_adopted 111025_Appendices

8/3/17 FINANCIAL AGREEMENT THIS FINANCIAL AGREEMENT (hereinafter “Agreement” or “Financial Agreement”), made this ________ day of ________, 2017, by and between GP Ashland Housing, L.L.C. (the “Entity”), a limited liability company of the State of New Jersey, as a housing sponsor under the New Jersey Housing and Mortgage Finance Agency Law of 1983, N.J.S.A. 55:14K-1 et seq. (the “HMFA Law”), with offices at c/o Prism Green Associates IV, LLC, 200 Broadacres Drive, Suite 180, Bloomfield, New Jersey 07003, along with its permitted successors and/or assigns, and THE TOWNSHIP OF WEST ORANGE, a municipal corporation in the County of Essex and the State of New Jersey (the “Township”, and together with the Entity, the “Parties”). W I T N E S S E T H: WHEREAS, the Entity has applied for a tax exemption pursuant to the HMFA Law in connection with the construction of forty-four (44) affordable family rental housing units (the “Affordable Units”) and all related improvements and located on real property identified on the Township’s tax map as Block 64, Lots 3, 21, 22, 25 and 27 (collectively, the “Project”) in accordance with that certain Amended and Restated Redevelopment Agreement by and between the Township and Prism Green Associates IV, LLC (“Prism”) dated as [___________], 2017 (the “Redevelopment Agreement”); and WHEREAS, the Township has adopted a resolution approving a tax exemption for the Project and authorizing this Financial Agreement and wishes to enter into this Financial Agreement in order to memorialize the terms and conditions applicable to this tax exemption, NOW, THEREFORE, in consideration of the mutual covenants herein contained and for other good and valuable consideration, the legal sufficiency of which is hereby acknowledged by the Parties, it is mutually covenanted and agreed as follows: ARTICLE I GENERAL PROVISIONS 1.01 Governing Law. This Financial Agreement shall be governed by the provisions of (a) the HMFA Law, (b) the resolution authorizing this Financial Agreement, and (c) all other relevant Federal, State or Township statutes, ordinances, resolutions, rules and/or regulations. It is expressly understood and agreed that the Township expressly relies upon the facts, data, and representations contained within the Entity’s tax exemption Application attached hereto in granting this tax exemption. 1.02 General Definitions. Unless specifically

y relies upon the facts, data, and representations contained within the Entity’s tax exemption Application attached hereto in granting this tax exemption. 1.02 General Definitions. Unless specifically provided otherwise or the context otherwise requires, the following terms when used in this Agreement shall have the following meanings: 2